ST. PETERSBURG, Fla. – Hyperloop One is celebrating a big milestone as they race to make their fast tube-based travel a reality.

The company announced Wednesday it has successfully completed the second phase of testing at their DevLoop track in Nevada.

“The Hyperloop One XP-1, the company's first-generation pod, accelerated for 300 meters and glided above the track using magnetic levitation before braking and coming to a gradual stop,” the company said in a statement.

"We've proven that our technology works, and we're now ready to enter into discussions with partners, customers and governments around the world about the full commercialization of our Hyperloop technology," said Hyperloop One CEO Rob Lloyd.

While autonomous cars are the talk of the future, there’s a competition to get autonomous pods to the market quickly as well.

Elon Musk, creator of SpaceX and Tesla, is working on his own version of a hyperloop.

Two weeks ago, Musk tweeted that he received verbal approval from the government to build a pod that would travel between New York and D.C. in just 29 minutes. He said his recently founded The Boring Company would build an underground tunnel through New York, Philadelphia, Baltimore and D.C.

Brogan BamBrogan, a co-founder at Hyperloop One, left after getting into a legal battle with the company, and has since formed a rival hyperloop firm called Arrivo.